WYOMING — Family-owned National Truck Brokers Inc., a Wyoming-based truckload carrier for grocery customers across seven Midwest states, has been acquired by a leading transportation and logistics company.
Executives announced on Friday that Des Moines, Iowa-based Ruan — one of the largest family-owned transportation and logistics companies in the U.S. that serves a variety of industries — acquired NTB, which will operate as an independent entity and maintain its name and brand, leadership structure and facilities.
Dan Koster founded NTB in 1974, growing the company to operate more than 235 trucks with 270 team members. Dan Koster’s three sons — Rick, Greg and Kurt — had since taken over ownership before the sale to NTB.
“My father built this great organization from the ground up, and it is our desire to chart a long and prosperous road ahead for the company,” NTB board Chairman Rick Koster said in a statement. “Sometimes charting the best path to accelerating progress and sustainability requires taking strategic leaps like joining forces with the right parent company. This agreement with Ruan provides a great opportunity for NTB to continue to grow and provide stability for our team members and customers.”
Terms of the deal were undisclosed.
Ruan officials said while growth through acquisition is “relatively uncommon” for the company, the strategic deal for NTB will benefit both firms.
Ruan has acquired companies “selectively when there’s a true, strategic fit and the opportunity to sustain and strengthen relationships with important customers. We’ve found these positive elements at NTB,” Ruan CEO Ben McLean said in a statement. “Both companies were founded by their first truck drivers, Dan Koster and John Ruan, so the two organizations have shared a foundational focus on safety throughout their histories.”
Over the coming months, NTB’s fleet will be replaced by late-model Freightliner units, which Ruan Senior Vice President of Operations Bob Elkins said is “just one of many ways that Ruan and NTB will partner to serve our valued customers and team members.”
Founded in 1932, Ruan provides contract and managed transportation, value-added warehousing and brokerage support services, and employs 5,000 people at more than 300 sites nationwide.
Ruan’s family of companies also includes Bankers Trust, a commercial and consumer bank with more than $4.5 billion in assets; a real estate development company; and a transportation parts supplier.